Category: Powerhouse
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Aviva agrees £3.7bn deal to acquire Direct Line, forming a UK motor insurance powerhouse
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Aviva has entered into a definitive agreement to acquire Direct Line for £3.7bn, creating one of Britain’s largest motor insurers. The FTSE 100 insurer will pay 275 pence per share for the FTSE 250 company, representing a 73.3 per cent premium to Direct Line’s share price before the talks emerged…
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China creates $230 billion brokerage powerhouse as consolidation gathers pace By Reuters
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HONG KONG (Reuters) – A merger of two state-backed brokerages in China to create a sector leader with $230 billion in assets is part of Beijing’s drive to consolidate the $1.7 trillion industry amid tough markets and is set to gain momentum, analysts said. Shanghai-based Guotai Juan Securities will acquire…